The crisis at Intu is continuing with a report that its potential administrator, KPMG, is seeking £12 million in emergency funding to help the shopping centre giant continue operating during an insolvency process.
The value of London landlord Shaftesbury’s property portfolio slumped by 7.9% to £3.5 billion during the first half of the 2020 financial year, as Covid-19 hurt its ability to collect rent from hard-hit retailers.
Hearst Magazines has named Samira Nasr to be the new editor-in-chief of the US edition of Harper’s Bazaar, the group’s single most famous fashion magazine. The first person of color to edit the 153-year-old publication.
Inditex made its first ever net loss in Q1 as the pandemic hit it hard. But the firm has been busy during the lockdowns and its updated strategy will see it emerging as an even stronger omnichannel operation.
Covent Garden will reopen for shopping on June 15 with all the social distancing and hygiene measures in place that we expect. And there will be new services on offer as retailers aim to innovate post-lockdown.
A new study has shown that more Britons are prepared to get back to shopping post-lockdown than aren’t. But it also shows a changed environment with consumers seeking greater sustainability and more value.
As the government seeks to boost the economy following the coronavirus crisis and the linked lockdowns, there have been suggestions that Sunday trading laws could be relaxed to allow large shops to open for longer.
Footfall to retail areas is beginning its long recovery journey and this bodes well for the June 15 reopening of those shops. Retail parks are benefiting and smaller local high streets are also seeing a boost.
With rumors mounting that Bernard Arnault may be attempting to renegotiate a lower deal price for LVMH’s acquisition of Tiffany, the luxury group said Thursday it will not buy any shares in the jeweler on the market.
Shopping malls giant Unibail-Rodamco-Westfield has made “strong progress” with its mall reopenings globally with 65 of 90 now open. And indications are that footfall and trade is stronger than expected in many countries.